How Do You Open a Charles Schwab Brokerage Account?


Quick Answer

Consumers can open a Charles Schwab brokerage account by applying online at the official Charles Schwab website. Applications can also be submitted by mail, and consumers can contact Charles Schwab directly by phone for assistance with opening a brokerage account. Applications can be downloaded from the Charles Schwab website.

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How Do You Open a Charles Schwab Brokerage Account?
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Full Answer

In order to open a Charles Schwab brokerage account a consumer must have a minimum of $1,000 to fund the account. Additional information that is required to open an account include the Social Security numbers of all account holders, driver's license numbers and details, such as information regarding the employment of account holders and any statements for assets that may be transferred to the brokerage account.

Charles Schwab does not charge any fees for consumers to open the account. However, there is a fee of $8.95 per equity trade. A Charles Schwab brokerage account gives consumers the option to trade bonds, stocks, mutual funds, CDs and ETFs. Account holders can also take advantage of investment research conducted by third parties, and expert advice on investing or trading is also available. The company also provides 24/7 support and service to consumers. Account holders can also manage their funds and trades via the Schwab Mobile app for smartphones and tablets.

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